Rothschild Investment LLC Sells 1,767 Shares of Fifth Third Bancorp $FITB

Rothschild Investment LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,702 shares of the financial services provider’s stock after selling 1,767 shares during the quarter. Rothschild Investment LLC’s holdings in Fifth Third Bancorp were worth $934,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Tiemann Investment Advisors LLC boosted its stake in Fifth Third Bancorp by 3.9% during the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 250 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 260 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Fifth Third Bancorp by 11.9% in the 2nd quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 263 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Fifth Third Bancorp by 1.5% in the 2nd quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock worth $759,000 after buying an additional 271 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Fifth Third Bancorp by 6.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,290 shares of the financial services provider’s stock worth $176,000 after buying an additional 276 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FITB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Fifth Third Bancorp in a research note on Wednesday, October 8th. Janney Montgomery Scott raised their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. UBS Group lifted their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $60.00 price objective on shares of Fifth Third Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, Robert W. Baird raised their price objective on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.35.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $41.12 on Tuesday. The business has a 50-day simple moving average of $43.46 and a two-hundred day simple moving average of $42.01. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $27.18 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.98. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.9%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.76%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, Director Evan Bayh purchased 3,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the purchase, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. This represents a 3.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.